737MAX重启交付大陆航司，波音舟山工厂有望走出闲置状态

Core Viewpoint - The recent delivery of a Boeing 737 MAX 8 to a Chinese airline marks a significant moment in the recovery of Boeing's operations in China, following the impacts of the US-China trade war and the pandemic [2][3][5]. Group 1: Impact of US-China Trade Relations - The trade war previously led to a dramatic increase in tariffs on US-made aircraft and parts, from around 5% to as high as 145%, discouraging Chinese airlines from purchasing Boeing aircraft [2][3]. - The delivery process for Boeing aircraft has evolved, with planes now being completed in China after initial assembly in the US, reflecting a shift in operational strategy [2][3]. Group 2: Delivery and Production Challenges - Boeing's delivery capacity to Chinese airlines has significantly decreased, with only about 60 new 737 MAX aircraft delivered since 2019, compared to an expected annual delivery of 100 [6]. - The company aims to achieve positive cash flow by increasing the monthly production of the 737 MAX to between 38 and 40 units, as current production is limited by FAA regulations [5][6]. Group 3: Market Dynamics and Customer Retention - Several Chinese airlines have shifted away from Boeing, with some converting their orders to other aircraft models, indicating a potential loss of market share for Boeing in China [6][7]. - Despite challenges, there are indications of a potential recovery, with new aircraft deliveries, including the 737 MAX, expected to resume soon, which could revitalize operations at Boeing's Zhoushan facility [7].